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SIGNATURE JOHN R ELDER
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
February 28, 1997 Excelsior Institutional Money Fund Semi-Annual Report and is
qualified in its entirety by reference to such report.
</LEGEND>
<CIK> 0000914535
<NAME> EXCELSIOR FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 278,737,708
<INVESTMENTS-AT-VALUE> 278,737,708
<RECEIVABLES> 0
<ASSETS-OTHER> 71,732
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 278,809,440
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,109,402
<TOTAL-LIABILITIES> 1,109,402
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 277,700,038
<SHARES-COMMON-STOCK> 277,700,038
<SHARES-COMMON-PRIOR> 293,289,516
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 277,700,038
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 9,232,054
<EXPENSES-NET> 415,098
<NET-INVESTMENT-INCOME> 8,816,956
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 8,816,956
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8,816,956
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,034,551,281
<NUMBER-OF-SHARES-REDEEMED> 2,054,044,484
<SHARES-REINVESTED> 3,903,723
<NET-CHANGE-IN-ASSETS> 15,589,480
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 761,289
<AVERAGE-NET-ASSETS> 329,923,414
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.026
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.026
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
